The Dangote Petroleum Refinery has reduced the ex-depot (gantry) price of petrol from ₦828 to ₦699 per litre, marking a ₦129 decrease and a 15.58% reduction. The latest price cut took effect on Thursday and reflects Dangote’s continued adjustments to ensure competitive pricing in the domestic fuel market.
This reduction is the 20th petrol price adjustment from the refinery this year, according to data from Petroleumprice.ng. An official at the refinery confirmed the new pricing, noting that the review aligns with ongoing efforts to stabilise petrol supply despite fluctuations in global crude dynamics.
The price adjustment also follows a recent meeting between refinery chairman Aliko Dangote and President Bola Tinubu, during which the refinery reaffirmed its commitment to maintaining reasonable fuel prices. The refinery has also been responding to challenges such as market volatility and the persistent issue of fuel smuggling across Nigeria’s borders.
With the new ex-depot price, analysts expect retail pump prices across the country to record downward adjustments in the coming days. The development is anticipated to bring relief to motorists and transport operators, particularly as travel demand increases towards the festive season.